Critical meeting between Minister Şimşek and World Bank President Banga

Minister of Treasury and Finance Mehmet Şimşek met with World Bank Group President Ajay Banga.

The meeting between Şimşek and Banga took place at the Ministry of Treasury and Finance.

The meeting, which was closed to the press, lasted approximately 1 hour.

Banga's visit is significant as it is the first visit to Turkey at the level of World Bank Group President in a long time.

According to information obtained, developments in the Turkish economy were discussed during the meeting. Banga reiterated his support for Turkey's economic program.

Furthermore, the "Country Partnership Framework," which forms the basis of financial and technical cooperation between the World Bank and Turkey covering the 2024-2028 fiscal years, was discussed. In this context, potential collaborations in many areas such as disaster resilience, energy, green transition, combating climate change, supporting exports, the real sector, infrastructure, logistics, industry, agriculture, education, health, and inclusivity were emphasized.

Immediately following the Medium-Term Program (MTP) announced by Turkey in September 2023, the World Bank increased its funding amount for Turkey, which was 17 billion dollars, by 18 billion dollars to 35 billion dollars to express its support for the program.

The aforementioned funding is being used to finance projects to be developed within the scope of the priorities set out in the MTP and the 12th Development Plan.

News Source: AA